Brevan Howard Asset Management is set to pour in up to 1.5% of its $5.6 billion main hedge fund in digital assets, according to Bloomberg.
- The initial allocation will be managed by Distributed Global Co-founders Johnny Steindorff and Tucker Waterman.
- Trading will be done through the Elwood Asset Management platform which Howard started four years ago.
- Brevan Howard earlier acquired a 25% stake in One River Asset Management, a $2.5 billion firm whose cryptocurrency funds are backed by co-founder Alan Howard who also invests personal money into cryptocurrencies.
- Howard has invested in Distributed Global since early 2018. It also runs a crypto venture capital fund in partnership with Singapore’s Temasek Holdings Pte.
- Brevan Howard has been developing digital trading technologies in the last few years. In the last quarter of 2020, it decided that the industry had matured enough for it to deploy a portion of clients’ cash.
- The firm’s main fund is run by a group of traders including Howard, Fash Golchin, Alfredo Saitta, and Minal Bathwal. It climbed 27.4% in 2020 to mark its best annual return since 2003.